Want to make correct trade entries and exits? The EFC Indicator claims to show the right entries and find successful trades in under a minute. This Metatrader 4 compatible indicator also works with Ninja Trader 7 and Ninja Trader 8. By using this service, the system boasts consistent weekly profits of more than $1,000.
As a product of the Trading Strategy Guides group that offers several other guides and products, this indicator boasts of using a potent approach for detecting reversal patterns. Are you making the right choice by choosing this indicator? Our review, which we have put together after analyzing the various aspects of this system, will help you decide.
The EFC Indicator works on a risk-reward ratio of 1:3 by using a specific trend reversal identification approach. Since it is an automated system, all the trade settings are taken care of by the indicator. Based on the info provided on the official site, this system is effective for all types of traders, such as scalpers, day traders, and more.
An inbuilt mechanism in this indicator initiates a trade only when there is a positive reversal happening and it weeds out the false patterns. Special features like divergence detector and the 50-candle line help to enable better trades. Although the developer of this system is not divulged, there is mention of the Trading Strategy Guides group.
However, contact details are not provided and any support is provided by the parent group presumably. We would have liked more transparency both in terms of developer info and the contact details.
How to Start Trading With EFC Indicator
For $99, this indicator is offered along with a scanner and a dashboard as a special offer according to the vendor. Other features included in the package are a customizable indicator with unlimited access, special strategy report, analysis of specific time frames, auto filter, alerts, over 210 trade setups, and more.
Additional promo offers include support, strategy vault access, and a 30-day money-back assurance. The strategy vault has more than 20 trading approaches. With the scanner feature, it is possible to scan thirty currency pairs on seven different timeframes.
According to the site info, the scanner tool is alone worth $2997. But, the vendor includes it as part of the main package without any additional cost.
The dashboard is another feature that offers 210 different active trade settings. This dashboard is only accessible via the MetaTrader Platform. Additionally, this system can be accessed via the Ninja trader platforms too. With this accessibility, the vendor attempts to include the traders using the Ninja Trader platform.
Although the vendor mentions backtested results, the site does not provide any strategy report. This is highly disappointing as backtests help to reveal plenty of details about the performance of the system.
Unverified Trading Results of EFC Indicator
A few images of the various trades executed with the indicator are shown on the official site. However, these are not verified results. We prefer the trading results to be verified on sites such as the myfxbook, FX Blue, etc.
Verified results reveal essential details of the performance such as the gain percentage, the drawdown, profit factor, and more. Such details provide a better insight into the working of this system and its effectiveness.
We could not find any reviews from customers for this indicator including the official site. Reviews from trusted sites such as the Forexpeacearmy, Trustpilot, etc. give a better perspective of the support offered, the trading efficacy, and more. Without reviews, we are not able to arrive at a positive conclusion regarding this system.
Is EFC Indicator a Viable Option?
From our assessment of this system, we find that it has more shortcomings than advantages. The advantages and disadvantages of the system are given below:
- Provides more than 210 trade setups
- 30-day money-back guarantee
- Verified trading results and backtests are not provided
- Strategy explanation is not sufficient
- Support details are not present
As an automated system claiming to identify winning trades, EFC Indicator reveals several downsides. From our analysis of the various aspects of the system, it is clear that it is not a reliable system.
Firstly, transparency is lacking in the system. We could not get a proper insight into the strategy and the developer info. And, strategy tests and trading results, which are vital for evaluating the dependability of a system, are not provided.
While the price is cheap considering the various features present, the absence of customer reviews is a shortcoming in this product.
Despite the money-back assurance of 30 days, this indicator fails to divulge the crucial info needed for a trader to rely on it and start trading. Without proper performance proof and transparency, we could not recommend this system.